Aberdeen Asset Management chief executive Martin Gilbert confident Theresa May will protect City in Brexit negotiations

 
William Turvill
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Martin Gilbert co-founder and chief executive of Aberdeen Asset Management (Source: Getty)

Aberdeen Asset Management chief executive Martin Gilbert has praised Prime Minister Theresa May and backed her to get a good deal for the City in Brexit negotiations.

“I think she’s handling it pretty well,” he said. “I think she’s doing all she can: get the General Election over with now, which will either give her a stronger mandate or a lesser mandate.”

He added: “I think Theresa May is going to do as much as she possibly can to protect the financial services sector…It is nice to know that Theresa May is well up on the issues and I’m sure will do a good job.”

Read more: Aberdeen Asset Management is reaping the benefits of weaker sterling

The fund manager today reported slowing outflows and rising revenues and profits in the six months to 31 March, sending its shares up four per cent to 291.1p.

Despite the improving results, the emerging markets-focused asset manager has reported four consecutive years of outflows.

Asked if he has felt under pressure during that period, Gilbert told City A.M.: “Not really. I think people are pretty sensible. They judge you on what you can and can’t control.

“I think what’s very pleasing for us is that we’ve kept the costs under control, which is one of the things we can influence. One of the things we can’t influence is markets. If sentiment’s negative, people are going to take money out of emerging markets.

“We’ve seen that for four years. It’s been a tough four years, but we’re still immensely profitable.”

Read more: Aberdeen and Standard Life pay £35m to retain top execs

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